The unemployed are often locked out of low-rate refi market
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Plus: The Weekly Wrap, housing loans remain strong and foreclosures creep back up.
Segments From this episode
The Weekly Wrap
Bloomberg’s Jordyn Holman and ADP’S Nela Richardson chat with Kai Ryssdal about retail sales, supply chains and more.
Demand for bank loans isn't strong. Housing loans are the exception.
Consumers and businesses have used pandemic benefits to pay down loan balances.
Foreclosures rise as pandemic protections expire
But filings are still well below historical norms. And analysts are not expecting anything like the foreclosure crisis during the last recession.
What does the Federal Reserve board of governors do, besides voting on interest rates?
There are seven members of the board of governors. Usually.
Unemployed and unable to refinance
With mortgage rates around 3%, many of those who might benefit the most from refinancing and reducing their monthly payments aren’t able to.
Music from the episode
Fishtail Parker Nightmares On Wax
Inside Out Spoon
Lord of the Fries Polyrhythmics
Standing In The Middle Of The Field - Tensnake Remix Cut Copy, Tensnake
Will You Miss Me The Notting Hillbillies
Nancy Farghalli Executive Producer
Daisy Palacios Senior Producer
Maria Hollenhorst Producer
Sean McHenry Associate Producer